In the past it seems as if I read somewhere that if you were late on a payment on any of your credit cards that any 0% agreements would be canceled, and replaced with a high interest rate. Any one run into this?
And remeber the CC companies are now able to check you CR daily. One 30 day late shows up on one CR and your rate could be jacked that same day.
Re: Re: Cancelling "0" % interest cards. THAT WOULD COST THEM "TONS" OF MONEY TO DO EVERYBODY EVERY DAY!!! BUT it would be VERY GOOD for "B"
Re: Re: Cancelling "0" % interest cards. There have been a few articles recently about a "new" computer system the CRA's have put in place. It allows creditors to have access to your CR ALL the time. I don't know everything about it but its all computerized. I therorize that if something pops up on your CR that any creditor can recive an update right away. This is a NEW computer system, not the way it use to be done. Maybe the creditors can put "requests" on your CR. If you have a 30 day late show up, the creditor that placed the request will be notified right away. Scary.
Re: Re: Re: Cancelling "0" % interest cards. SO...it is like your CREDIT CARD COMPANY sending you an E-MAIL when your PAYMENT is posted??? BUT THEY DON'T DO AN "AR" X 365??? Only "IF" notified???
Re: Re: Re: Cancelling "0" % interest cards. Keep in mind I am guessing as far as what actually goes on. But from the articles it made it sound like they get notified "if" something happens.
Re: Re: Re: Re: Cancelling "0" % interest cards. I wonder what "SOMETHING" can entail??? A big payment??? A big increase in the balance??? MAXED??? PAID OFF??? ANY "NEW" HARD INQUIRY??? A 30 DAY LATE WOULD NOT BE THE ONLY "TRIGGER"
Re: Re: Re: Re: Cancelling "0" % interest cards. I assume it could be anything. Whatever they wanted the trigger to be.
